Kansas City Fed Services Activity Index Rebounds in January

Kansas City Fed Services Activity Index Rebounds in January


Provided by
Dow Jones
By Colin Kellaher
Services activity in the middle of the U.S. expanded a bit in January following a slight drop in December, and expectations for future activity rose sharply, according to a monthly survey by the Federal Reserve Bank of Kansas City.
The Tenth District Services Survey's composite index, a weighted average of indexes covering revenue/sales, employment and inventory, came in at 8 for January, rebounding from a reading of minus 4 in December. Readings above zero indicate expansion, while those below zero indicate contraction.
The Kansas City Fed said most of its month-over-month indexes were positive in January, with the general revenue and sales index rising amid higher wholesale, retail, real-estate, professional and technical services, healthcare, and restaurant activity. However, the bank noted that auto, tourism and hospitality activity declined.

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